By HeapNews
Nigeria has officially been admitted as a “partner country” of the BRICS bloc, according to Brazil, the current chair of the group. This development marks a significant milestone for Africa’s largest economy and population, aligning it with one of the world’s most influential coalitions of developing nations.
BRICS, originally founded by Brazil, Russia, India, and China in 2009, expanded to include South Africa in 2010. The group serves as a counterweight to the Group of Seven (G7) industrialized nations and aims to enhance global cooperation among emerging economies.
In recent years, BRICS has broadened its network, adding Iran, Egypt, Ethiopia, and the United Arab Emirates as members in 2023, and inviting Saudi Arabia to join. Nigeria is now the ninth partner country, joining Belarus, Bolivia, Cuba, Kazakhstan, Malaysia, Thailand, Uganda, and Uzbekistan.
“With the world’s sixth-largest population and Africa’s largest, as well as being one of the continent’s major economies, Nigeria shares convergent interests with other members of BRICS,” Brazil’s government noted in a statement on Friday. “It plays an active role in strengthening South-South cooperation and in reforming global governance, issues that are top priorities during Brazil’s current presidency.”
The admission comes amid discussions within BRICS about establishing an alternative payment system to reduce dependency on the U.S. dollar. This initiative has drawn criticism from certain quarters, including former U.S. President Donald Trump, who last year threatened 100% tariffs against BRICS nations if they took steps to undermine the dollar.
The inclusion of Nigeria in this growing network of nations highlights its rising prominence on the global stage and its commitment to fostering economic collaboration with like-minded economies.